W3C home > Mailing lists > Public > public-webpayments@w3.org > May 2013

Re: FYI Pay With Bits

From: David Nicol <davidnicol@gmail.com>
Date: Thu, 2 May 2013 09:45:20 -0500
Message-ID: <CAFwScO9CnqJFcePpHQ2kfhdNj__xB_9ubJoOZaQOXV-wjADvVA@mail.gmail.com>
To: Melvin Carvalho <melvincarvalho@gmail.com>
Cc: Nathan Rixham <nathan@webr3.org>, Web Payments <public-webpayments@w3.org>
On Thu, May 2, 2013 at 3:50 AM, Melvin Carvalho <melvincarvalho@gmail.com>wrote:

>
> The hard thing with a distributed ledger is synchronization of the
> network.  This is why proof of work is smart because it gives the network
> time to adjust and avoids race conditions, the most important of which is,
> double spend.
>

Yes, and Bitcoin's solution to the double spend problem is completely
brilliant.

At the other end of the spectrum is, perimeter security around  a trusted
central ledger.

Bitcoin ain't nothing but a ledger.

And for all of us with paralyzing chicken or egg problems, this:
http://www.youtube.com/watch?v=DYL_9onwTAI
Received on Thursday, 2 May 2013 14:45:47 UTC

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